Joshua Parfitt
BIT2ME is Spain’s first cryptocurrency service provider to get registered with the Banco de España.
Bit2Me can now provide a white-label service for Spain-based banks to provide crypto trading on their own platforms.
The leading Spanish-language exchange is reportedly in talks with ‘several banks’ after becoming the first crypto service to apply and receive recognition from the Bank of Spain.
The approval means Bit2Me complies with ‘the requirements of commercial and professional honourability established for credit institutions with the regulations for the prevention of money laundering’.
It comes as the Banco de España issued instructions for how crypto-related services can register back in October.
Bit2Me is headquartered in Spain and one of the leading Spanish-language cryptocurrency exchanges.
The company operates in more than 100 countries and saw a trading volume of €1.1 billion throughout 2021, a year in which it hired former Coinbase UK CEO Zeeshan Feroz and former Mastercard International president Baldomero Falcones.
Bit2Me also rolled out a cryptocurrency wallet, allowing instant purchases and transfers in crypto tokens.
"The recognition of the Bank of Spain is a boost to our trade relations," said Bit2Me CEO Leif Ferreira. "Being the first company in the world to achieve this recognition speaks for itself about the security with which our service is developed and the confidence in Bit2Me."
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